Great Value Overlooking Lake Edina

Where: 4904 Poppy Lane in Edina
What: 4 BR/3BA walkout rambler with 4,200 FSF and pool overlooking Lake Edina
How (much): $699k
Who: listed by Steve Stewart; broker is Edina Realty

Historically, homes in Edina enjoyed some of the best appreciation in the Twin Cities — and weathered economic downturns much better.

Not this recession — especially for upper bracket Edina homes (and true of upper bracket homes throughout the area).

Exhibit A would be this sprawling rambler overlooking Lake Edina.

Originally listed at $1.1 million a year ago, the price was just reduced Monday from $825k to $699k — now a whopping $180k below the tax assessed value ($880k).

I saw the home earlier this Spring, and thought it was a value $100k higher!
About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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